Blackstone Data Center REIT Prices $1.7 Billion IPO at $20
Blackstone Digital Infrastructure Trust, Blackstone's new data center real estate investment trust, priced its initial public offering at $20 a share, implying proceeds of about $1.74 billion. The deal includes 87.5 million shares, with 86.8 million sold to investors and 725,987 issued as bonus shares, leaving IPO investors effectively paying about $19.80 per share. A Blackstone affiliate indicated interest in buying about $200 million of the offering, or roughly 11.3%.
The newly formed company has not yet acquired assets and plans to buy newly constructed, income-generating data centers leased to investment-grade hyperscale tenants on long-term contracts. The vehicle is targeting newly built data centers valued at $250 million to $1.5 billion, and the shares are set to trade on the New York Stock Exchange under the symbol BXDC.
From the sources (3 posts)
@techmemeFiling: Blackstone's data center acquisition vehicle seeks to raise as much as $1.75B in its IPO, and will target newly built data centers valued at $250M-$1.5B (@subrat_patnaik / Bloomberg) (Visit Techmeme dot com for the link and full co
@iponewsroom_JUST IN: BLACKSTONE'S NEW DATA CENTER REIT, BLACKSTONE DIGITAL INFRASTRUCTURE TRUST $BXDC, IS PRICING ITS IPO AT $20 PER SHARE The deal: • 87.5 million shares offered, with 86.8 million sold to investors and 725,987 issued as bonus shares
@qzBlackstone is seeking $1.75 billion in an IPO for its new data center REIT: Blackstone Digital Infrastructure Trust will target newly built data centers leased to investment-grade hyperscalers, with shares set to trade on the NYSE under BXD